-
This case was written by Professor Hans Brechbühl of the Tuck
School of Business at Dartmouth, with assistance from Professor
Yiorgos Bakamitsos of the Tuck School of Business at Dartmouth and
Stefan Muehlemann, T’04. It was written as a basis for class
discussion and not to illustrate effective or ineffective
management practices. The authors gratefully acknowledge the
support of the Glassmeyer/McNamee Center for Digital Strategies,
which funded the research and development of this case. Version:
December 2003.
Note: The numbers in this case are broadly representative of
PERI’s performance, but not necessarily an exact reflection of
their financial statements.
© 2003 Trustees of Dartmouth College. All rights reserved. For
permission to reprint, contact the Center for Digital Strategies at
603-646-0899.
Case #6-0019
PERI Current Situation Alexander Schwörer sat in his office on
the fourth floor of PERI headquarters in Weissenhorn, a year after
completing his MBA at Tuck and returning to his family’s business
in Germany. He’d never really left it behind, he reflected, having
spearheaded PERI’s expansion into the U.S. market in its core
business of formwork for concrete while attending Tuck. But now, a
year later, there were no more study breaks – he was fully engaged
in PERI’s future, working hand-in-hand with his father, Artur, who,
though nearing 70, was as energetically involved as ever.
There would be lots of issues to tackle, Alex knew. Even at over
500 million Euros in turnover last year (see Exhibits A, B, and C
for an income statement, balance sheet and cash flow statement
respectively), PERI was a vertically integrated firm in an age when
this was no longer fashionable nor, some might have said, efficient
and practical. The shift from a purchase-oriented market to a
rental one seemed to be a global trend in concrete formwork and
scaffolding and brought with it new service and customer
relationship challenges. Much of the necessary investment in
equipment rental parks had been made over the last four years, but
the debt accumulated remained to be paid off and now there was the
strategic question of the need for pan-European rental parks. The
relatively new scaffolding business was doing well in Spain, but
the question of where and how quickly it should be expanded was an
important one. In fact, Alex had three Tuck students working with
him this summer, two of them on the expansion of the scaffolding
business into the U.S. PERI was expanding by leaps and bounds
internationally, but the market in Germany was really down – where
they used to get 4.5% of the list price as a monthly rental rate,
2002 had averaged 2.99%. He wondered what all this meant for PERI’s
customized approach to each client, indeed each construction site –
costs would have to be reduced somewhere.
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PERI Case #6-0019
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for Digital Strategies 2
PERI History This was quite a company Alex had returned to. It
had its humble roots in 1969, when Alex’s father, Herr (Mr. in
German) Artur Schwörer built his first wooden girders for cement
formwork. As he completed his first orders, his customers demanded
more and Herr Schwörer gradually became a project engineer, helping
his clients execute their projects. In this evolution were the
seeds of the PERI solution philosophy. Within three years, PERI had
an exhibit at the BAUMA in Munich, the world’s largest building
conference and exhibition. Growth came quickly after that. Two
years later, PERI was already an international company, having
established subsidiaries in Switzerland and France and then adding
Spain in 1975. Expansion then slowed, with the U.S. and three
European countries being added over the next thirteen years. But
beginning with the addition of Great Britain in 1989, the 1990s saw
rapid international expansion (see Exhibit D for a list of
subsidiaries and year added). The first half of the 1990s also
heralded an incredible boom period within Germany, due largely to
the tremendous rebuilding opportunities brought by the fall of the
Berlin Wall and the subsequent German reunification. Turnover in
Germany tripled between 1989 and 1994 when it peaked at 165 million
Euros, and then began a gradual descent to where it is today at
around 100 million. Simultaneously, PERI began planting its flag in
Asia. As the window closed on rebuilding in the former East
Germany, PERI began opening others, entering South America and the
Middle East, and expanding in the United States which it had
initially entered in 1982. PERI seriously stepped up its
international volumes beginning in 1994, and by 1997, turnover
internationally had outstripped turnover in Germany (see Exhibit E
for recent year sales figures and trends).
PERI’s Business in 2003 PERI has grown from a company with a
turnover of roughly 50 million Euros twenty years ago, to a
turnover of more than 525 million in 2002. Of this, less than 20%
is now from Germany. With the exception of a couple of joint
ventures, all subsidiaries, including international subsidiaries,
are wholly owned. PERI employs 3500 people in 34 countries,
approximately 1350 of them in Germany, of which 1000 are at the
headquarters in Weissenhorn, SE of Stuttgart. PERI does almost all
of its own manufacturing at its factories in Weissenhorn and ships
products from there all over Europe and around the world (see
Exhibits F and G for charts illustrating sales by region and
country).
PERI sells and rents three types of construction equipment, all
of which are made from wood, steel or aluminum (see Exhibit H for
pictures of each category of equipment):
• Formwork for pouring concrete walls;
• Metal shoring (supports) for concrete slabs; and most
recently
• Scaffolding for construction of all types.
The first two of these are normally used by general contractors
and concrete subcontractors. The general contractors, who take on
many different projects, tend to rent the equipment, basing their
requests on the requirements of the particular job they were
accepting –
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for Digital Strategies 3
superintendents or project managers on site usually made rental
decisions. Smaller companies, usually the concrete subcontractors
who specialize in certain work and tended to do the same type of
job over and over, often bought – their purchases tended to be made
by the owners.
Only recently has PERI entered the scaffolding market,
originally to meet a shoring market demand in Asia, where
scaffolding was in demand as a cheap shoring system, not as access
scaffolding. It was not introduced as a standalone product (access
scaffolding), however, until the right competitive advantage was
found – in this case, the ability for one man, from a safe position
below, to erect the next level of the scaffold completely,
guardrail included, ensuring his safety when he climbs to the next
level (since the safety guardrail will already be in place). PERI
then introduced it as a standalone product in Spain and is rapidly
moving to expand. Scaffolding clients are far less homogeneous and
can be divided into five market segments: industrial scaffolding
(power plants, etc. – rent), commercial scaffolding (erect and
disassemble – rent or buy), remodeling contractors or craftsmen
(buy), special events (PERI’s arena product – rental), and general
contractors (generally rent). Of these, only the last are currently
amongst the clients to whom sales already talks. PERI provides
engineering services for formwork, shoring and scaffolding, though
scaffolding requires distinctly less technical expertise. PERI also
offers cleaning and repair services for its products.
From its inception, PERI’s philosophy has revolved around
providing better ideas, better solutions, for its clients. The
heart of this concept is that if PERI can provide simpler, more
easily utilizable equipment, the client can use this relatively
inexpensive equipment to save on the comparatively more expensive
labor through faster, simpler setup. To give a concrete example, to
create a standard 30 cm (12 inch) thick cement wall, 63% of the
expense is in the formwork into which the cement is poured, and
only 37% is in the actual cost of the cement. Of that
formwork-related 63%, the vast majority (80%) is labor cost! Quite
simply, the easier and more efficient to use the formwork is, the
lower the labor requirements, and the lower the costs to build the
wall.
PERI has a large product selection that addresses the needs for
formwork, shoring and scaffolding from small construction projects
to huge bridges or skyscrapers. From PERI VARIO, an extremely
flexible variable girder wall system, to PERI DOMINO, a lightweight
panel wall system, PERI has a formwork product for every need. The
same is true in its other product lines, even in its new
scaffolding line where PERI has products from simple façade
scaffolding (PERI UP) to industrial applications (e.g. PERI Rosett)
for refineries, bridge repairs, etc.
PERI’s products have been used for major construction projects
all around the world. A small sample list would include:
• The new Federal Chancellery in Berlin, Germany
• Trump World Tower III in New York, USA
• The Cross of the Third Millennium in Coquimbo, Chile
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for Digital Strategies 4
• Petronas Towers, Kuala Lumpur, Malaysia
• Eleftherios Venizelos International Airport, Athens,
Greece
• The Ohio State Football Stadium extension in Columbus, OH,
USA
• Beni Haroun Dam in Wilaya de Mila, Algeria
• The world’s tallest highway bridge, the Viaduc de Millau in
France.
As construction companies grew larger in size, PERI’s business
was increasingly becoming a rental business. Internationally 65% of
the business is now rental, and is even higher in Germany, having
reached 75% there.
PERI’s business in its home territory of Germany has been
difficult lately. The industry has really suffered as the economy
has bottomed, and competition for projects is fierce as competitors
seek to grab what share of the available business they can at
almost any cost. As stated above, PERI’s rental rate (defined as
the percentage of the list price of the rented material paid as a
monthly rental fee), which used to be 4.5% in Germany, slumped to
3.17% in 2001 and further to 2.99% in 2002. It had only stabilized
at around 3.2% in 2003 because PERI simply refused to accept any
projects below that. Even so, PERI currently ships 200-300 tons
every day from Weissenhorn alone (that’s about 20 loaded
semi-trucks).
The Competition All of PERI’s main competitors were in existence
when PERI was founded, yet today PERI is the largest formwork,
shoring and scaffolding company in the world. Below is a comparison
of the turnover of PERI and its closest competitors using turnover
figures in Euro for 2001:
PERI (German): 496 million
Doka (Austrian): 370 million
Hünnebeck (German – part of Thyssen Group): 160-170 million
SGB Patent (U.S. – owned by Harsco): 120 million (mostly in
scaffolding)
Efco (U.S.: 80 million)
PERI’s sources of competitive advantage appear to be three:
• PERI has always managed to stay ahead technologically, coming
up with the next generation of simplicity in formwork or shoring
ahead of its competitors
• PERI has also generally been a first-mover in international
expansion
• Most competitors use a dealer model – PERI has shied away from
that since its inception, believing that a direct sales model
empowering a highly educated and technically competent sales force
is the best way to go.
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for Digital Strategies 5
PERI’s Business Model and Culture Superior engineering has been
at the heart of PERI’s development as a company. Products are
designed to be simple and easy-to-use – if they can’t be developed
satisfactorily that way, they are simply not brought to market by
PERI. This engineering focus carries over from the product to the
sales arena as well. Each client relationship is managed by a local
“sales engineer” who is required not only to be able to handle the
relationship building aspects, but must be thoroughly competent
technically, able to deal with all clients without a “tech guy”
present.
PERI is also very customer-solution focused. PERI has operated
on the principle that it can provide a tailored solution that
recognizes the unique circumstances of every construction site for
its clients. PERI’s hi-touch approach often includes on-site
consultation during construction and sometimes even input from PERI
engineers based at the headquarters in Weissenhorn.
PERI is very vertically integrated. The company not only
designs, manufactures and sells its products, it also provides
services around them. In fact, on the extreme end, when they are
not readily available or don’t meet the exact needs, PERI often
also designs and builds the machines that manufacture its products!
The company has few partnerships – Danzas, their logistics
(trucking) partner is their only partner of any significance –
although they are considering partnerships for the erection and
dismantling of scaffolding.
PERI’s culture is one of delegation of authority – even when
Herr Schwörer, the company’s founder, goes to a client with a sales
engineer, the offer comes from the sales engineer to the client,
not from the boss. Herr Schwörer believes strongly that a culture
of letting people be responsible for their areas and not creating
bureaucratic procedures is not only the right personnel policy, but
also accounts for the fact that his chief competitor, Doka, has 8%
higher personnel costs. Yet with PERI’s growth, monitoring
follow-thru on the ever increasing number of projects kicked-off
was becoming more difficult.
Understanding of the changing business issues, regardless of
ones functional assignment, runs very deep in PERI. They have a
strong and well-coordinated management team that functions using
“management by objective” for itself and its employees. Unlike what
one would expect from a German company, Herr Schwörer doesn’t
particularly care for organization charts (though he admits that
this causes a bit of a struggle as to how to conceptualize the
organization). He prefers just to have a description of what each
person does and believes strongly in doing yearly reviews and
revisions, having each person write their own job descriptions and
propose their own goals for the coming year.
PERI does have common metrics it uses to measure the success of
its business overall and the progress of its subsidiaries. Many of
them are relatively standard metrics any business would use, but
some are peculiar to the nature of the business: utilization factor
for rental yards, tons/day for logistics, etc. For a list of the
main metrics PERI uses, see Exhibit I.
While software development to aid the design process and project
management was a valuable element of PERI’s approach, using
enterprise information technology was not deeply ingrained strength
of PERI’s. In fact, given the different systems and processes
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Tuck School of Business at Dartmouth—Glassmeyer/McNamee Center
for Digital Strategies 6
subsidiaries were using, gathering useful figures on rentals
across PERI was proving rather difficult. As Alex reflected on
this, he wondered about the role of information technology. Could
it be an enabler for PERI? Could digital technology help PERI
maintain its hi-touch engineering service and customer-solution
orientation while still cutting costs? He resolved to think through
some of the critical processes for the company and then get some
help seeing where they may be able to apply technology to PERI’s
advantage.
Sales Process and Fulfillment Each country organization
(subsidiary) has sales offices spread around the country as
appropriate based on the market. Leads are acquired in any number
of ways, from direct solicitation by the client, to reading about
an upcoming construction project in the paper, to aggressive
pursuit of relationships with key construction firms. The sales
engineer owns the relationships with the clients and meets with
them to determine their interest and the project needs. The sales
engineer, together with the design engineer from the local
engineering office when needed (75% of the time), then create the
proposal for the client, tapping expertise from Weissenhorn (5%) or
rarely, elsewhere within PERI. About half of the sales engineers
have their offices at the engineering support office – the other
half work out of home offices and communicate by telephone, fax,
and e-mail with the design engineers. If the PERI sales proposal is
accepted and becomes an order, the sales engineer places the order
with the country organization which fulfills the order from stock
on hand if possible. If it is not available, the country
organization should check with neighboring countries and, if
necessary, order from Weissenhorn (via fax) where the sales support
and order management group (VKI is the German acronym) receives the
order.
VKI checks, via computer and phone, with the warehouse if the
material is on hand, creating a piece list if none accompanied the
order (many products have numerous small parts or connectors that
are integral to its functionality – these are not always identified
by the sales engineer). If the product is available, VKI physically
passes the order to new material warehouse management, which
notifies Danzas (which does about 80% of PERI’s shipping),
providing them a paper list with the information for the order
pickup and preparing the order. The finished product is then
shipped to the client by Danzas. If the requested product system is
not completely available in the specified quantity, VKI calls and
informs the subsidiary, branch or if local, the sales engineer,
that certain parts of the order must be manufactured (this only
happens 3-5% of the time) and decides if a partial delivery is
appropriate. VKI provides all sales support for logistics and
billing, does all billing, coordinates with subsidiaries, German
branches and sales engineers. VKI even accepts direct orders on
occasion, and processes all sales orders from PERI subsidiaries
abroad.
But many of these customer facing (or at least customer-impact)
processes are entirely manual and fairly complex. Order management,
for instance, involves over 100 steps on average (for an
illustration of the lengthy process flow see Exhibit J). Not only
does the customer have no visibility into where the order is,
neither does the sales engineer. There is no IT system that checks
the status of the process. The sales engineer has to call, fax or
e-mail to get order status or check on back-orders.
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for Digital Strategies 7
Rental Process and Fulfillment The role of the sales and design
engineers is very similar in a rental situation, but the role of
VKI changes somewhat in the rental fulfillment process. They become
the clearance center for all rentals within Germany, determining
from what warehouses the orders submitted by the sales engineers
will be supported. Abroad, each subsidiary has someone who performs
this function nationally. They make these decisions chiefly based
on transport costs and overall view of material usage, sometimes
supporting orders through deliveries from a number of different
warehouses.
VKI or the national offices locate rental materials by using
printouts of equipment stored at each yard. They then follow-up by
contacting the yard to inquire about availability of the product.
After checking availability on paper, the yard often verifies
actual availability by physically checking for the equipment in the
yard. Lack of availability demands part of the load comes from the
new materials warehouse in Weissenhorn, essentially necessitating a
purchase of equipment by the subsidiary from Weissenhorn. Or, in
the case of Germany, a partial shipment from Weissenhorn.
Rental Yard Management Rental yards are storage areas for rental
equipment. Efficient management of its rental yards has become an
increasingly vital component of PERI’s business. So much so, that
there is now much consideration being given to a plan to
consolidate into bigger and bigger rental yards that have a
transnational function (“Euro” rental yards). In Germany, for
instance, PERI currently has ten rental yards, six of the largest
variety (so-called A yards), two medium-sized “B” yards and two
smaller “C” yards. Certain other countries also have more than one
rental yard based on the volume of business and geography of the
country.
The biggest challenge for individual rental yards is that of
getting returned material ready for re-rental. When a truck rolls
in returning equipment, yard workers identify the customer and
order and count the most important pieces with the driver as they
are dropped off – this generally occurs within one hour of the
return of the equipment. 87% of what PERI receives back is OK and
is returned to the rental stocks. The rest is sent to the repair
area or, if in really bad shape, taken out of service.
If the cost of the damage or of missing parts exceeds 1000
Euros, the client is called and a bill subsequently sent. If it is
less, only a bill is sent. PERI is now using digital technology for
accountability for damage on returned rental parts, using digital
photography to document damage and assess the $ value, and then
send the photographs to the clients via e-mail.
But the biggest issue in the process of the management of the
return of rental materials is not repair or damage, but rather
inventory control and visibility. It takes an average of one week
until each return shipment is totally inventoried, returned to
stock, and re-entered into the yard’s computer. At peak times, this
can even extend longer. That means that at any given time, over
1000 tons of material in Germany alone is invisible and not
available for re-rental even if it is in the yard. Weissenhorn
accounts for about 60% of this volume. Given the
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for Digital Strategies 8
potential impact it could have on rental utilization rate, PERI
has been considering an IT-linked Europe-wide logistics process and
is working on increasing rental equipment visibility by decreasing
the time required to register return of rented equipment.
PERI Software Solutions PERI has also developed a number of its
own engineering and project planning software solutions: ELPOS,
PERICAD and PERIAN. ELPOS and PERICAD are not only used internally,
but also made available to clients.
ELPOS is a formwork software program for basic planning and for
daily work scheduling for the basic (and most used) PERI wall-,
slab- and platform systems. It is used both by superintendents and
estimators for daily operations scheduling, including material
disposition and cycle planning, and also by PERI sales engineers
for rapid creation of parts lists and proposals. It is an
easy-to-use system, not a CAD-based system that allows
customization for each construction site, ensuring the proper
materials are present.
PERICAD is a more up-scale professional planning software to be
used for any formwork application. It requires basic CAD skills and
a more capable computer system. It is targeted at AutoCAD users,
and is used by PERI design engineers. It is available in a version
for scaffolding as well. It adapts layout plans, compares costs of
options, etc.
PERIAN is used by PERI sales and design engineers for the basic
purpose of creating proposals. It incorporates certain import
functions from ELPOS and PERICAD and is used strictly
internally.
Both ELPOS and PERICAD are available for client use. When a
client makes a major purchase of PERI systems, ELPOS and PERICAD
are most often included for the client by PERI without additional
cost. There are some exceptions to this, usually made when it is an
unusually complex project, or competition has driven other aspects
of the proposal lower than acceptable. If the client is simply
renting, the software is available for purchase – ELPOS costs about
2000 Euros, PERICAD about 3500. In about 90% of the rental cases,
clients choose to have PERI engineering services as a part of the
package, so software is only purchased if the client wants to
engineer it themselves, or in order to have onsite to handle small
engineering changes that arise on a daily basis.
Keys to Future Competition – What They Mean to PERI Alex thought
about the three things his father was emphasizing as the keys to
successful competition in this industry in the future:
technological development, service offerings, and product
availability. Herr Schwörer feels that technological development
will continue to be important – forms for concrete are constantly
getting lighter and lighter, but must also bear increased loads –
and PERI is known for the ease of use and safety of its equipment.
He also believes that service will continue to be an increasingly
critical component. And last, but hardly least, Herr Schwörer is
convinced that availability of product and the ability to deliver
when the client wants must be high. There was a time when the
market was more of a buying
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for Digital Strategies 9
market and many could compete. Now that it has become a rental
market the competition has become a lot tougher and only those with
big rental parks/good availability and high utilization rates will
succeed.
These three industry demands are likely to mean at least three
imperatives for the company. PERI must:
• Balance its ability to provide tailored solutions with
profitability. The realities of today’s environment make this a
critical issue for PERI. Breadth of product offerings inherently
provides more ability to tailor solutions – is this still the right
way to go as the market continues to head more towards rental (vs.
buy)? How do you deal with the different construction traditions
and regulations around the world? Not offering such design
flexibility would also diminish the authority and joy of the sales
engineer, perhaps threatening PERI’s culture.
• Ensure it can achieve the highest market share in every
country it is in or enters. High market share enables higher
operating efficiency and high utilization factors for the rental
parks.
• Emphasize cost leadership without losing utilization. This is
especially true in the rental parks and their associated processes.
PERI has been working with its subsidiaries (using a balanced
scorecard approach so they see the importance of all aspects of the
enterprise).
As Alex reflected on these and how PERI might execute them, he
returned to the question of the role of information technology.
Where could it help them – in marketing, in the sales process, in
engineering solutions, in logistics? What progress had they already
made in this arena of IT-enabling processes? He resolved to think
through some of the critical processes for the company and then get
some help seeing where they may be able to apply technology to
PERI’s advantage.
Perhaps he should start by getting more technology into the
logistics system, mused Alex. This would be a great help to
Wolfgang Bohnacker, the energetic logistics chief. But what about
providing greater capability on the customer end – wouldn’t that be
the place to invest first? Or would a more internally-oriented
platform that promoted increased employee interaction or
facilitated internal processes be the way to go? Alex thought he’d
best start off by writing a list of the potential ways he could use
information technology and what the likely impact on the firm and
the bottom line would be.
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for Digital Strategies 10
Exhibit A
in TEUR 2000 2001 2002
Operating revenue 440,675 515,621 548,221
Cost of materials 94,363 104,133 109,977
Personnel expenses 115,674 128,111 138,020
Depreciation 76,593 94,964 104,860
Other operating income 24,975 12,108 12,410
Other operating expenses 112,640 130,913 142,608
Financial results -19,826 -23,818 -23,993
Profit from ordinary operations 46,555 45,789 41,172
Taxes 23,486 20,359 18,249
Profit for the year 23,069 25,430 22,923
Thereof Sales 185,414 210,862 222,529Sales in % 42.1% 40.9%
40.6%Rental 244.387 285.238 303.492Rental in % 55.5% 55.3%
55.4%
Growth rate 24.1% 17.0% 6.3%
Income Statement
Financial Profile: Income Statement
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for Digital Strategies 11
Exhibit B
in TEUR 2000 2001 2002Tangible assets 110,807 117,409
124,087Rental assets 188,942 220,190 228,918Inventories 87,581
87,044 84,284Trade receivables 128,210 151,155 156,798Cash-in-hand,
bank balances 13,504 9,049 9,509Other assets 39,396 46,269
46,198Total assets 568,440 631,116 649,794
Equity 124,067 150,914 166,461Shares of silent partners 28,121
28,110 28,430Accruals 35,045 31,446 31,061Liabilities to banks
301,531 334,677 339,214Other litabilities 69,053 76,306 78,237Other
equity and liabilities 10,623 9,662 6,392Total equity and
liabilities 568,440 631,115 649,795
Balance Sheet Financial Profile: Balance Sheet
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Exhibit C
in TEUR 2000 2001 2002Profit before tax 46,554,529 45,789,035
41,171,855Tax paid 23,485,574 20,359,165 18,249,294Depreciation
76,593,052 94,964,312 104,860,353Change in provisions 480,795
180,040 653,921Funds from operation 100,142,802 120,574,222
128,436,835Inventory (rentals) (104,447,897) (114,531,868)
(99,991,188)Inventory (sales) (27,641,156) 537,309
2,759,568Receivables (41,172,386) (26,192,492) 6,272,480Payables
31,373,541 (1,722,877) (1,302,554)Free Operating Cash Flow
(41,745,096) (21,335,706) 36,175,141Capital expenditure
(21,408,714) (18,853,959) (31,790,407)Free Cash Flow (63,153,810)
(40,189,665) 4,384,734
Cash Flow Financial Profile: Cash Flow Statement
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PERI Subsidiaries
Exhibit D
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PERI’s Growth
24 30 24 19 32 33 43 5583 82 126
136 165 156 129 120 102 109 110 105 101 98 99 100 102 103 10333
21 24 33 33 33 3852
65 7861 70
81 96 123 156 196241
320391 425
460 502550 588
624 665
0
100
200
300
400
500
600
700
800
900
Germany Other Countries
Worldwide Turnover by Development
Exhibit E
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Regional Share of Total Turnover in %
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Germany
Western Europe
Eastern Europe
North America
South America
Middle East
Australasia
Sales by Region
Exhibit F
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Tuck School of Business at Dartmouth—Glassmeyer/McNamee Center
for Digital Strategies 16
Total Turnover
Exhibit G
Sales by Country
in -TEUR- Rank Country 2002 Rank Country 2002 1 Germany 116,773
19 Singapore 6,978 2 Spain 80,854 20 Australia 6,361 3 USA 51,009
21 Greece 4,234 4 Portugal 29,648 22 Turkey 4,162 5 Italy 28,100 23
UAE 3,719 6 France 23,249 24 Belgium 3,679 7 Poland 22,407 25
Israel 3,586 8 Great Britain 15,796 26 Romania 3,196 9 Canada
13,162 27 Netherlands 2,748 10 Sweden 12,720 28 Bulgaria 2,700 11
Czech Republic 11,959 29 Slovakia 2,551 12 Norway 11,938 30 Finland
2,441 13 Switzerland 11,390 31 Ukraine 2,139 14 Denmark 10,559 32
Brazil 1,767 15 Chile 9,951 33 Estland 1) 902 16 Hungary 8,853 34
Argentina 338 17 Korea 8,526 18 Austria 7,630 World 526,021 1)
Fiscal year only 1.7.02 - 31.12.02
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for Digital Strategies 17
Example of Formwork Equipment
Exhibit H
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PERI Case #6-0019
Tuck School of Business at Dartmouth—Glassmeyer/McNamee Center
for Digital Strategies 18
Exhibit H (continued)
Example of Shoring Equipment
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Tuck School of Business at Dartmouth—Glassmeyer/McNamee Center
for Digital Strategies 19
Exhibit H (continued)
Example of Scaffolding Equipment
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Tuck School of Business at Dartmouth—Glassmeyer/McNamee Center
for Digital Strategies 20
Exhibit I
Turnover vs. planned turnover Personnel costs: 17-25% of
expenses is OK Profit before tax: 10% is OK Cash flow: Target = 30%
Turnover/employee: 300K Euro is good; CH is tops at 414K Euro
Rental rate (% of list price/month): Good would be 4.5% Production:
Hours/square meter of formwork Production: Hours/linear meter of
XXXX Logistics: Tons/hour
Sample Metrics
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Tuck School of Business at Dartmouth—Glassmeyer/McNamee Center
for Digital Strategies 21
Exhibit J
From client inquiry to sending out the invoice part 1
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Exhibit J (continued)
From client inquiry to sending out the invoice part 2 Previous
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